An increase in the price level means that
A) long-run aggregate supply has increased.
B) monetary policy has been contractionary.
C) the value of the dollar has increased.
D) the purchasing power of money has fallen.
D
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Crowding out can occur when public insurance crowds out private insurance.
A. True B. False C. Uncertain
Suppose the accompanying figure shows the demand curve, marginal revenue curve and marginal cost curve for a monopolist.
At this monopolist's profit-maximizing level of output, its total revenue equals the area:
A. 0HNC. B. 0FJB. C. ELJB. D. 0FLE.
During times of financial hardship, the number of people on public assistance ______, causing aggregate demand to ______.
a. decreases; decrease b. increases; increase c. decreases; increase d. increases; decrease
Governments like to know the price elasticity of demand because it helps them determine how changes in sales tax rates will affect:
A. tax revenues. B. government spending. C. income. D. profits.